Estimate your monthly car loan payment and total cost with our auto loan calculator. Adjust car price, term, rate and down payment to find the best fit for your budget.
Several aspects of a loan contribute to what you’ll pay monthly and in total. Our car financing calculator collects the following information to help you plan for what you’ll be spending:
For new cars, use the MSRP (sticker price) or negotiated price before taxes.
For used cars use the seller’s asking price or your negotiated price. Online pricing guides will show you the price of comparable vehicles.
Aim for 20% of a new car’s purchase price and 10% for a used car.
If you can’t afford this amount, put down as much as you can without draining your savings or emergency funds.
If you get prequalified or preapproved for a loan, enter the rate you’re offered.
Or use this table to help estimate your rate and monthly car payment.
Credit score | Average APR, new car | Average APR, used car |
|---|---|---|
Superprime: 781-850. | 5.27%. | 7.15%. |
Prime: 661-780. | 6.78%. | 9.39%. |
Nonprime: 601-660. | 9.97%. | 13.95%. |
Subprime: 501-600. | 13.38%. | 18.90%. |
Deep subprime: 300-500. | 15.97%. | 21.58%. |
Source: Experian Information Solutions, 2nd quarter 2025. Based on VantageScore credit scoring model. | ||
Enter the number of months you want to pay off the loan. Common car loan terms are 24, 36, 48, 60, 72 or 84 months.
NerdWallet recommends no more than 60 months, if possible. Longer auto loan terms lower your monthly payment but increase your cost overall.
If you’ll be trading in a vehicle, enter its value. You can use a dealers actual offer or online car valuation tools that give you trade-in estimates.
If using online tools, make sure to use the trade-in value and not retail cost (the price at which the dealer sells the car).
Enter any remaining loan balance for the vehicle you’re trading in.
This is the payoff amount, which can be provided by your lender.
Including these numbers isn’t necessary, but it will provide more precise loan and payment estimates.
Enter your sales tax rate as a percentage. If you’re using the vehicle’s out-the-door price it includes sales tax, so leave this field blank.
Input title, registration or other fees — such as destination charges. Again, omit these items if you’re using an out-the-door price that includes them.
When you input your numbers, our auto loan calculator automatically updates to show you the following:
A monthly car payment estimate.
Total loan cost (principal and interest).
Loan payoff date.
Option to view a full amortization schedule for your car loan, showing how each payment is split between principal and interest monthly.
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